1982Mick became a Certified Financial Planning (CFP) Practitioner and also incorporated his practice under the name of Financial Plans & Strategies, Inc. on May 28, 1982.

1982To fight inflation during the 1982 recession, which was running at a rate of 14 % per year, the Federal Reserve Board increased interest rates. By November 1982, unemployment had reached the highest rate since the Depression and the second highest number of businesses failed since 1933.

Throughout our history we have experienced a wide range of economic environments. While we constantly assimilate this new knowledge into our clients...

While serving clients across the United States, our firm is also involved in our local community. Our team enjoys giving back to the community including such activities as hosting charity events and providing financial literacy education to local schools. While significant documentation is required in the financial industry, we strive to operate as a paperless office to be as environmentally-friendly as possible.

1994The North American Free Trade Agreement (NAFTA) was implemented and included the removal of tariffs on over half of US imports from Mexico and from a third of exports to Mexico.

Like foreign relations, your relationships change over time. As your relationships change, we will annually review both your beneficiaries and the people...

1996Lara DeSotel joins Financial Plans & Strategies, Inc.

1997After serving as Education Director, Mick is elected President and later Chairman of the Board of the Central Indiana Society of Certified Financial Planners (this organization later merged into the Financial Planning Association of Greater Indiana).

With a focus on education and continual improvement, our firm continues to monitor the current developments in the financial services field. We derive insight...

2001After the terrorist attacks on September 11th, the stock exchanges remained closed until September 17. When trading resumed, some of it was transacted in temporary new locations. Upon reopening, the Dow Jones Industrial Average fell 684 points, or 7.1% and by the end of the week, it had fallen 1,369.7 points or 14.3%.

Fear is a powerful motivator. The market can drop substantially in a short amount of time. However, selling out of your depressed investments simply...

2007Angela Sodrel joins the firm from Chase bank.

2007The Great Recession was the largest economic collapse since the Great Depression. The turmoil in the fixed income markets included the bankruptcy of numerous financial institutions. Residential private investment fell from its 2006 peak of $800 billion to $400 billion by mid-2009.

A key to a successful long-term financial plan is being able to stay with your plan, even during tough times. During the Great Recession, many investors...

2012We all face tough times. When the US government faced its “Fiscal Cliff” many people were affected. Home sales, auto sales, and job creation all suffered. Even holiday spending did not meet expectations as consumer confidence experienced its sharpest drop in years.

Life is full of uncertainties and unfortunate events. You can only control what you can control. Death, disability, or any number of other issues can...

2016Markets quickly react to information although long-term impacts are not always immediate. On the fourth day after the Brexit vote, the FTSE 100, FTSE250, the pound, the Dow Jones and S&P500 had all risen. Investors noted that Britain's exit from the European Union would not happen immediately meaning the status quo was unlikely to change in the short term.

Many items on this timeline have highlighted events producing negative returns in the short-term. While we do not want to focus on these negatives, we find...

1973Mick enters the financial services industry.

Recognizing the need for the average American to earn better investments results than what was being offered by the dominant industries at the time, the banks and insurance companies, our firm founder began offering investment advice implemented with mutual funds. Also if the client had a need for life insurance, low cost term-life was recommended.

1977The Department of Energy was created in response to the United States Energy Crisis.

Whether you invest to earn the maximum return or invest in companies you value, we are an independent investment advisor who can accommodate any investment option. While this independence provides critical flexibility, we routinely and rigorously evaluate the available investment options to ensure we make the best recommendations to our clients.

1978The United States Federal Trade Commission recommends against the use of whole life insurance as an investment.

The FTC found that the average rate of return on ordinary life insurance policyholders in 1977 was 1 - 2%. Price competition is so ineffective in the life insurance industry that companies paying 20-year rates of return of 2% or less compete successfully against companies that pay 4 – 6%. This disparity should be contrasted with the banking industry, where differences of a quarter of a percent are considered to be competitively crucial. The report also took issue with the severe, unannounced penalties for early withdrawal of savings through life insurance policies. The penalties imposed by life insurance companies do not merely reduce the return earned on the principal: they often reduce and sometimes even eliminate the principle itself.

1980Mick obtains his Juris Doctorate.

Many activities in the financial services field require specialized licenses or certification. Our staff must meet ongoing requirements to hold these credentials. Our specialization allows us to make sure all the pieces of your financial puzzle come together to form the picture you desire.

1981Mick joins the International Association of Financial Planners.

Early on, Mick realized that international investments were playing an ever increasing role in the investment markets. As the percentage of the world's equities market capitalization outside of the United States continues to increase, the markets continue to adapt to this international competition. Our appreciation of international exposure goes beyond just looking at the nation of domicile and considering where that company actually transacts business.

1981The world experienced attacks on both political and religious leaders as President Reagan and the Pope were shot.

The equities market has withstood many shocks over the years and parts of it always seem to be facing some sort of turmoil. Despite usually having a negative effect on this market, these tumultuous events and their effects are often short-lived. Over the long-term, exposure to the equities market is critical for access to the growth created as mankind continues to develop and improve the quality of living around the world.

1982Mick became a Certified Financial Planning (CFP) Practitioner and also incorporated his practice under the name of Financial Plans & Strategies, Inc. on May 28, 1982.

From the beginning, our firm has embraced the fiduciary standard of care which requires that a financial advisor act solely in the client’s best interest when offering personalized financial advice. This is reflected in the fact that we delve deep into your personal circumstances and review significant amounts of information on your current financial status to create a customized plan. We do not offer advice that is generally suitable for someone like “you”; we find out about YOU and specifically tailor our advice to your goals.

1982To fight inflation during the 1982 recession, which was running at a rate of 14 % per year, the Federal Reserve Board increased interest rates. By November 1982, unemployment had reached the highest rate since the Depression and the second highest number of businesses failed since 1933.

Throughout our history we have experienced a wide range of economic environments. While we constantly assimilate this new knowledge into our clients’ projection, our focus remains long term. Not only are there macro level changes, we also include the micro or individual changes in your life. We meet with our clients annually to make sure that we have the most up to date information on your goals and circumstances. The decision on how to invest your portfolio is not a one-time event, we continue to monitor your portfolio each day the US stock market is open.

1985Financial Plans & Strategies, Inc begin sharing office space and working with clients of a Certified Public Accountants firms.

Recognizing the need to provide comprehensive planning, FPS partnered with several specialists in other financial fields to provide a more comprehensive service. There are many specialties in the financial sector and our firm utilizes a multi-disciplined team to identify opportunities in each of these areas. If in creating your financial plan we need to involve specialized services that we do not offer, we will gladly provide you with free referral to a professional who can assist you.

1985The United States became a debtor nation for the first time since World War I, and many people called for protectionist legislation from Congress to decrease the inflow of imports.

Debt issues are nothing new in the United States. Now, many people are suffering under crippling student loan debt obligations. While it may be premature for an ongoing financial services relationship, a one-time meeting will help you find the best option for handling your debt issues. The earlier you get your plan together, the sooner you can chart your path to financial independence.

1987On “Black Monday”, October 19, the Dow Jones Industrial Average dropped a record 22.6% (508 points) in a single day. By the end of the month global markets had declined substantially

Just as markets go up and down, national economies fluctuate. Many investors equate the S&P 500 index with the entire market. with the entire market. This index only represents 500 U.S. based-companies out of the tens of thousands of other options all over the globe. We assemble our portfolios to provide broad access to the investment markets to make sure not all of your eggs are in any one basket.

While significant paperwork is required in the financial industry, our office strives to operate in as paperless and environmentally-friendly way as possible.

1994The North American Free Trade Agreement (NAFTA) was implemented and included the removal of tariffs on over half of US imports from Mexico and from a third of exports to Mexico.

Like foreign relations, your relationships change over time. As your relationships change, we will annually review both your beneficiaries and the people who you have authorized to access any part of your financial plan.

1996Lara DeSotel joins Financial Plans & Strategies, Inc.

Attention to detail is critical in the financial services field. Dotting the “I’s” and crossing the “T’s” is necessary to ensure the safety and handling of not only your investments but also of your personal information. As the Chief Compliance Officer, Lara ensures the proper protections are in place safeguarding these for you.

1997After serving as Education Director, Mick is elected President and later Chairman of the Board of the Central Indiana Society of Certified Financial Planners (this organization later merged into the Financial Planning Association of Greater Indiana).

With a focus on education and continual improvement, our firm continues to monitor the current developments in the financial services field. We derive insight from cutting edge academic progress, but what differentiates us is how we interpret and communicate that research into understandable, practical investment solutions for our clients.

2000After a bull rush to invest in the technology sector, the Dotcom bubble burst causing a $5 trillion decline in the market from March 2000 to October 2002.

The equities market has historically risen over the long-term, but equity prices also decline. So the question is not whether a decline will happen, it is only one of the timing and the magnitude of that decline. There has only been one time in the past 89 years that the S&P 500 Index has not declined at least 4.4% since an interim peak. Three fourths of these market corrections were greater than 10% and the mean decline is 17%.

An educated client is a better client. Mick was selected to provide general financial advice and opinion to the community. Financial Plans & Strategies, Inc. continues this effort by providing access to general financial information and educational materials in the Resources Section/blog.

2001After the terrorist attacks on September 11th, the stock exchanges remained closed until September 17. When trading resumed, some of it was transacted in temporary new locations. Upon reopening, the Dow Jones Industrial Average fell 684 points, or 7.1% and by the end of the week, it had fallen 1,369.7 points or 14.3%.

Fear is a powerful motivator. The market can drop substantially in a short amount of time. However, selling out of your depressed investments simply because of negative market activity simply captures the lower prices. We recommend staying the course and if you do not sell during the panic, your investments will likely recover and you will not have lost anything due to the decline. However, our clients may have a legitimate, individualized need to access their investments even during down markets. For this reason we structure your portfolio to include sufficient bonds and other fixed income investments that historically often rise when equities fall in value. During periods of a declining stock market, this structure allows us to sell what is high (the bonds) and avoid selling what is low (the equities).

2007Angela Sodrel joins the firm from Chase bank.

We strive to have a strong advisor-client relationship with a lead advisor, but we also typically assume that our clients will live to reach at least 95 years in age. We recognize that a retirement plan can span decades and that the firm will need to continue serving our clients long into the future. Angie brought with her an extensive knowledge of the banking industry.

2007The Great Recession was the largest economic collapse since the Great Depression. The turmoil in the fixed income markets included the bankruptcy of numerous financial institutions. Residential private investment fell from its 2006 peak of $800 billion to $400 billion by mid-2009.

A key to a successful long-term financial plan is being able to stay with your plan, even during tough times. During the Great Recession, many investors panicked and sold their equity funds at depressed prices. Financial Plans & Strategies, Inc., met and spoke with our clients individually and held four seminars attended by hundreds of clients of the firm. As a result of the firm efforts and the wise and educated response of our clients, less than 1% of our clients’ equity funds were liquidated in a reactionary fear of the market. By not liquidating in a panic, our clients still had their holdings when the market recovered.

2012We all face tough times. When the US government faced its “Fiscal Cliff” many people were affected. Home sales, auto sales, and job creation all suffered. Even holiday spending did not meet expectations as consumer confidence experienced its sharpest drop in years.

Life is full of uncertainties and unfortunate events. You can only control what you can control. Death, disability, or any number of other issues can instantly change everything. Losing a primary contributor can have catastrophic consequences for their heirs or dependents. Proper planning can alleviate many of these complications and make life easier for you and your loved ones to weather the tough times.

2013

2016Markets quickly react to information although long-term impacts are not always immediate. On the fourth day after the Brexit vote, the FTSE 100, FTSE250, the pound, the Dow Jones and S&P500 had all risen. Investors noted that Britain's exit from the European Union would not happen immediately meaning the status quo was unlikely to change in the short term.

Many items on this timeline have highlighted events producing negative returns in the short-term. While we do not want to focus on these negatives, we find it important to note that even at times when the market is reaching new records, doomsday predictions never seem far away. Often several days after these events, the world seems to wake up and realize that life goes on and we have ever improving systems to accommodate these disruptions.

Soon after Maggie rejoined Financial Plans & Strategies, Inc. after serving as an advisor at Vanguard for three years, Financial Plans & Strategies, Inc. began its transition to a fee-only Registered Investment Advisory firm to continue to provide the same high level of service in an ever-evolving industry. Maggie has enjoyed returning to the personal relationships she has developed under Financial Plans & Strategies, Inc.’s methodology.

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representative, broker - dealer, state - or SEC - registered investment advisory firm. The opinions expressed and
material provided are for general information, and should not be considered a solicitation for the purchase or
sale of any security.

No Individual should assume that any information presented or made available on or through this website should be construed as personalized financial planning or investment advice. Personalized financial planning and investment advice can only be rendered after engagement of the firm for services, execution of the required documentation, and receipt of required disclosures. Please contact the firm for further information.

Be sure to consult with a FPS adviser and/or a tax professional before implementing any strategy discussed herein.